Core Insights - Novo Resources Corp. has made significant advancements in its exploration activities at the Tibooburra Gold Project in New South Wales, highlighting the potential for high-grade gold deposits similar to major Victorian-style gold deposits [2][3][5]. Exploration Activities - Recent exploration included mapping and surface sampling at key prospects such as New Bendigo, Pioneer, and Warratta Reef, along with re-logging historic diamond core and conducting down-hole geophysical surveys at the Clone prospect [6][8]. - Rock chip sampling at Pioneer North returned a peak result of 39.9 g/t Au, while Pioneer South showed multiple samples exceeding 1 g/t Au, with peak values of 19.8 g/t Au, 8.12 g/t Au, and 5.83 g/t Au [7][12]. Geological Understanding - The exploration has enhanced the geological understanding of the high-grade gold system, indicating a multi-kilometre-scale alteration corridor with potential for high-grade gold from multiple reefs [7][11]. - The mapping work supports the interpretation of shallow to moderate NNW plunging high-grade shoots as the primary target style [8][11]. Drilling Plans - The company is in the final stages of assessing further drilling to test the extensions of Clone and Pioneer South, with all regulatory approvals for drilling at the John Bull project near Grafton already received [4][9]. - Drilling targets are being evaluated at Pioneer, New Bendigo, and Clone, with a focus on high-grade shoots [8][22]. New Applications - An additional exploration license has been applied for at Tibooburra, covering approximately 350 sq km, which consolidates the trend and includes multiple areas of historic workings [37]. Summary of Results - Significant rock chip results from the recent exploration include 39.9 g/t Au from Pioneer North and multiple high-grade results from Pioneer South, indicating strong potential for further discoveries [7][12]. - The company is awaiting assay results from 136 rock chip samples across priority prospects and 115 soil samples from Warratta Reef [8].